Tag Archives: IFDA Preneed Trust

Randall L Earl To Be Pres.Elect of NFDA|Funeral nightmare-yourfuneralguy

10 Oct
Quarter of Illinois
Image via Wikipedia

Randall L. Earl is about to be elected President  Elect Of The NFDA. This is truly a nightmare on Funeral Street. Earl is a central figure in the Illinois Funeral Directors Association Ponzi Scheme.(IFDA Preneed Trust-over 100 milliom dollars gone) Most folks are not aware of his role in this mess. As past President of the IFDA , his role in the Missuse of funds in the Museum of Funeral Customs,and involvement with IFDA Services in the scam make him an unsafe figure in anything Funeral.

The National Funeral Directors Association would do well not to Elect him President at the NFDA convention currently going on in New Orleans.

Earl is Named in all the IFDA Lawsuits and at the center of the scandal

Funeral Industry, Funeral News,Funeral Blog YourFuneralGuy

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California Funeral Homes Scandal-YourFuneralGuy

16 Sep
Black Cooper Sander Funeral Home, Hollister, C...
California Funeral Home-Image via Wikipedia

It is not the exact same scandal as the Illinois Funeral Directors Association(IFDA) Preneed Trust Scandal. But just as  in Illinois, problems with the California Master Trust and the California Funeral Directors Association relate back to funeral homes and misuse of Preneed Funds.

SACRAMENTO, Calif.—A California agency plans to discipline about 300 funeral homes after finding the state’s second-largest funeral trust misused millions of dollars.Department of Consumer Affairs spokesman Russ Heimerich said Wednesday that funeral homes could be sent a warning letter or have their licenses revoked. The funeral homes all participate in the California Master Trust.

The trust holds money paid in advance by 27,000 individuals for funeral services, cemetery plots and other expenses.

Heimerich says the department will act against homes in coming weeks because the majority of them failed to say how they would correct problems found in a state audit released in July.

via www.mercurynews.com

Just a few more reasons to avoid funeral preneed contracts or Prepaying for a Funeral.

Funeral Industry| Funeral News| Funeral Blog by Your Funeral Guy

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Batesville Casket Co. sponsoring Lunch for Corrupt Funeral Directors?|Your Funeral Guy

16 May

The Illinois Funeral Directors Association has appeared to survive to their next  convention in June  2010. The  Convention Brochure gives mention of the IFDA Preneed Trust new Trustee Fiduciary Partners.but not the ponzi scheme lawsuit.There is no mention  in their brochure of the status of the Trust, the lawsuits and the situation with regulators.

Batesville Casket Company seemingly does not care about the corruption charges, pending and the questionable dealings at the IFDA for it is sponsoring the lunch at  the  IFDA convention. Batesville continues to throw money at dying funeral entities like the Illinois Funeral Directors Association to keep itself in business.

In the Illinois Funeral Directors Association scandal over 40 million was lost before the Wall Street Crash of September 2008. The figure on monies lost is now 100 million dollars. Loans to board members were made out of the Good folks of Illinois  Funeral Money(IFDA Pre Need Trust) over the years.

Again at this convention the questionable  former IFDA president and former head of the Museum of Funeral Customs, NFDA (National Funeral Directors Association)treasurer Randal l Earl will be honored at the convention.

Time will tell but it does appear that the Illinois Funeral Directors Association good old boy network may have survived the IFDA Preneed Trust Scam.

Funeral industry\funeral news\funeral blog by your funeral guy

Source: IFDA

Soon More to come in Illinois Funeral Directors Lawsuit|YourFuneralGuy

21 Mar

The problem with settling preneed fraud in Court is that it may take years before justice is served.

The  Class Action Lawsuit against the Illinois Funeral Directors Association will be moving in forward in the next several days and the next several months.

THE PROBLEM WITH SETTLING THIS MATTER IN THE COURTS IS THAT IT TAKES YEARS FOR THE PERPETRATORS OF PRENEED SCAMS(IFDA LEADERS) TO BE BROUGHT TO JUSTICE>

Merrill Lynch can still be investigated for it’s role in the mess. The Comptroller’s Agreement is now null and void-and another agreement between Merrill Lynch  and the Illinois Department of Insurance may be Null and void as well. Merrill Lynch may have to pay for it’s role in the IFDA Preneed  TrustPonzi Scheme.  The Judge in the IFDA Lawsuit has in instructed the 6 Illinois Funeral Directors led by Calvert Funeral Homes to file an amended complaint by March 24th 2009

The defendants the IFDA and it’s leaders must file a response to the complaint by April 21st, 2010.

There will be a status hearing on this matter On May 5th, 2010.

Funeral Industry|FuneralNews|Funeral Blog by Your Funeral guy Funeral Director, Illinois and Virginia.

Consequence of Illinois Funeral Director Association Scandal-Your Funeral Guy

15 Dec

A consequence of the Illinois Funeral Directors(IFDA)Scandal is a lack of Funeral jobs in the State. Unemployed Funeral Directors and Mortuary Students.  Because of the cuts in payouts out of the IFDA  Preneed Trust (commissions) many funeral home owners will be working past retirement in the State.

The result of this lack Of Income is a lack of Jobs. The Fact that Merrill Lynch is withdrawing as the trustee for the IFDA  preneed trust  makes the situation all the worse.

Funeral Industry|Funeral Blog by Your Funeral Guy

Massachusetts Funeral Homes found to Violate the Rules-Your Funeral Guy

25 Nov

In in a sting operation by the the Division of Public Licensure in the State of Massachusetts, funeral homes in the Bay state were found to be violating the rule of law concerning funerals.

In August, 46 of the 175 Bay State funeral parlors checked at random failed an undercover sting, according to the state Division of Public Licensure. As a result, those funeral homes potentially face thousands of dollars in fines.

via www.metrowestdailynews.com

Contrast this to the State of Illinois where the Head of the Licensing Board is under investigation in the IFDA Preneed Ponzi Scheme.

In Massachusetts, it is the usual- Funeral Homes failed to hand over the general price list as required by the FTC, Funeral Rule.

Funeral Industry|Funeral Blog by Your Funeral Guy.

 

Illinois Small Funeral homes lose authority over Preneed Funds-Your Funeral Guy

2 Nov
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Small Illinois Funeral Homes lost fiduciary Control over their preneed funds

Last week Small funeral homes in Illinois have lost fiduciary authority over their. preneed funds. Funeral Directors are looking for new ways to bring in income and they are considering knowledge basis of services, end of life services, estate planing, grief counseling etc as a new income source.

The small funeral home owners can thank the Illinois Funeral Directors Association through the IFDA Preneed Trust Ponzi scheme for this.

Last week 10/28/2009 the Governor of the State of Illinois amendatory veto applied to Senate Bill SB1692 was passed by the Illinois Legislature. It can be viewed here.

The funeral homes will have to find a trustee for their  preneed funds in 2010.